Vegan Pea-Milk Brand Raises $65 Million in Funding

Two-year-old company Ripple Foods has raised a total of $110 million to expand its popular vegan pea-based milk products.

California-based vegan brand Ripple Foods announced this week that it closed a $65 million capital funding round. A number of large investment firms participated in the round, including top financial institution Goldman Sachs. “We are proud to invest in a company that has one of the fastest-growing plant-based product lines,” Kathy Elsesser, Goldman Sachs global chair of consumer retail and health-care groups, told Bloomberg. Ripple—which makes plant-based dairy alternatives from its proprietary yellow pea protein Ripptein—debuted at retailers such as Whole Foods Markets and Target in 2016. Last year, Ripple—which has raised $110 million in investment capital to date—launched vegan Greek yogurt, child-friendly vegan milk, and plant-based half & half, and is currently developing vegan ice cream.